The Whisper Game

Yesterday delivered the initial stages of a potential downturn.  The after-hours action, again, threw it into question after — you guessed it — more whispers of progress on the trade front.Naturally, we also saw more algo-baiting nonsense in VIX, USDJPY and crude.The record books will reflect that the market continues to hit new all-time highs.  But, what about price discovery?  Is it still a “market” when prices are manipulated so easily every single day?

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